Amir Shojaei Sells 11,250 Shares of Harrow (NASDAQ:HROW) Stock

Harrow, Inc. (NASDAQ:HROW) insider Amir Shojaei sold 11,250 shares of Harrow stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider owned 11,250 shares of the company’s stock, valued at approximately $450,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Harrow Price Performance

Shares of NASDAQ HROW opened at $39.52 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -39.52 and a beta of 0.28. Harrow, Inc. has a twelve month low of $28.54 and a twelve month high of $54.85. The business has a 50 day simple moving average of $41.19 and a 200-day simple moving average of $39.81.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.28). Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.The firm had revenue of $70.66 million for the quarter, compared to the consensus estimate of $70.35 million.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HROW. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald lowered their target price on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Zacks Research cut Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Finally, BTIG Research restated a “buy” rating and set a $63.00 price objective on shares of Harrow in a research report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.43.

Hedge Funds Weigh In On Harrow

A number of institutional investors and hedge funds have recently bought and sold shares of HROW. Royal Bank of Canada raised its position in shares of Harrow by 102.5% during the 1st quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock worth $261,000 after buying an additional 4,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Harrow by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock valued at $483,000 after acquiring an additional 790 shares during the period. Strs Ohio acquired a new position in shares of Harrow during the first quarter valued at approximately $149,000. Legal & General Group Plc raised its holdings in Harrow by 12.4% during the second quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock worth $939,000 after purchasing an additional 3,384 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Harrow by 9.3% in the second quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock worth $1,434,000 after purchasing an additional 3,994 shares during the period. Institutional investors own 72.76% of the company’s stock.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.